Singapore: BW LPG, the world’s largest VLGC operator, is paying $8m in exercising a purchase option for the Berge Summit. The 78,489 cu m ship has been on bareboat charter with BW LPG since 2004. It was built by Japan’s Mitsubishi Heavy Industries in 1990.
BW LPG said that including unamortised lease rentals and drydocking expenses on the Berge Summit, the book value of the vessel when delivered into the fleet next month, is expected to be approximately $23m.
BW LPG’s CFO, Vijay Kamath, told Splash: “2015 still looks promising, our concern is the number of vessels delivering later this year, and so we’re conservative on the market for 2016 and 2017.”
